The central bank opened two proposals for comment under the GENIUS Act, requiring issuers it supervises to back tokens fully with safe assets and creating an application process for banks seeking to issue stablecoins.
- The Federal Reserve has proposed new rules for stablecoin issuers under its supervision, requiring full backing with safe assets and capital reserves.
- The proposals, part of the GENIUS Act, also establish an application process for banks wishing to issue stablecoins.
- These regulations aim to ensure stablecoin stability, facilitate their integration into the financial mainstream, and maintain the dollar's global dominance.
Topics: Legal regulatory, Jurisdictions, Asset types, Securities law classification, Regulatory sandboxes pilots, Stablecoins digital cash
Tags: #federalreserve #stablecoinrules #geniusact #reserves #capitalrequirements #paymentstablecoinissuers #treasurybills #banksupervision #dollarpeggedtokens
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